Core

Hive

Bitcoin

James

CoinShares (CS) said in a study on Friday that after the bitcoin (BTC) halving, cryptocurrency miners would switch to artificial intelligence (AI) in energy-secure places because of the possibility of increased revenue.
The quadrennial halving took place on Friday night, slowing the supply of bitcoin by 50%.
According to Coinshares, mining firms like BitDigital (BTBT), Hive (HIVE), and Hut 8 (HUT) are already making money with artificial intelligence. In parallel, TeraWulf (WULF) and Core Scientific (CORZ) intend to expand in the AI field or already have activities in place.
According to experts lead by James Butterfill, “this trend suggests that bitcoin mining may move to stranded energy sites while investment in AI grows at more stable locations.”
The halving will result in significant cost hikes for the miners, with electricity and overall production costs nearly doubling, according to the study. By minimizing energy costs, boosting mining efficiency, and purchasing more affordable machinery, mining businesses can attempt to offset these increased expenses.
The authors stated that the weighted average cash cost of production in Q4 was almost $29,500; after halves, it is anticipated to be roughly $53,000. After the halving, the average electricity cost of production for a bitcoin is predicted to rise to around $34,900 from roughly $16,300 in the fourth quarter.
According to the asset manager’s projections, the hashrate might reach 700 exahash by 2025, but if miners shut down inefficient equipment, it might decrease by 10% following the halving. Following the incident, a drop in hash prices to $53/ph/day is anticipated.
The total combined processing power used to mine and process transactions on a proof-of-work blockchain is referred to as hashrate. According to CoinShares, miners are actively managing their debt, with some even utilizing extra money to settle debt.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/04/22/bitcoin-transaction-fees-plummet-post-halving-record-highs/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin Transaction Fees Plummet Post-Halving Record Highs</a>
</blockquote>

CoinShares Study Suggests Miners May Turn To AI Post-Halving

The Crypto Times

2024년 4월 22일에 게재된 다른 기사

Crypto Stealing AI Bot Discovered on GitHub

Just-In: Shiba Inu’s Shytoshi Kusama Unveils $12M Funding Via TREAT For Layer-3 Blockchain

De.Fi Presented its Accelerator & Announced the First Raise on April 29th

BNB vs BUDZ: Binance Traders Predict New Memecoin To Hit Tier 1 Exchanges

Melania Trump Launches Personalized Necklace for Mother’s Day

Pro-Crypto RFK Jr Vows To Make US Budget Publicly Accessible On Blockchain

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!